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This paper is concerned with the question of how to define the core when cooperation takes place in a dynamic setting …-games. Three different core concepts are presented: the classical core, the strong sequential core and the weak sequential core …. Sufficient conditions are given for nonemptiness of the classical core in general and of the weak sequential core for the case of …
Persistent link: https://www.econbiz.de/10005050933
two sides. A symmetrically multilateral-bargained (SMB) allocation is a core allocation such that any agent is in … kernel-based set that, together with the core, characterizes the set of SMB. …
Persistent link: https://www.econbiz.de/10005022339
We study the behaviour of the extreme points of the core of a game in front of the reduction of the game and prove that … the extreme core points have the reduced game property but not the converse reduced game property. Nevertheless we give … some sufficient conditions on an extreme point of the core of a reduced game to extend to an extreme core point of the …
Persistent link: https://www.econbiz.de/10005022366
outside players play their best response noncooperatively, the core is nonempty in games with strategic complements. We apply …
Persistent link: https://www.econbiz.de/10005620003
set of players of the cooperative game is the set of pure actions of the strategic game. The Core is characterized through …
Persistent link: https://www.econbiz.de/10010991677
A large theoretical literature on value capture following Brandenburger and Stuart Jr. (1996) uses cooperative games under complete information to study how and why firms earn supernormal profits. However, firms often have different information, beliefs, or creative foresight. We extend value...
Persistent link: https://www.econbiz.de/10012101420
The nucleolus offers a desirable payoff-sharing solution in cooperative games, thanks to its attractive properties. Although computing the nucleolus is very challenging, the Kohlberg criterion offers a method for verifying whether a solution is the nucleolus in relatively small games (number of...
Persistent link: https://www.econbiz.de/10012226689
sell-side). This simple and intuitive learning process implements core allocations even though agents have no knowledge of …
Persistent link: https://www.econbiz.de/10009756276
We develop a model of assignment games with pairwise-identitydependent externalities. A concept of conjectural equilibrium is proposed, and the universal conjecture is shown to be the necessary and sufficient condition for the general existence of equilibrium. We then apply the solution concept...
Persistent link: https://www.econbiz.de/10010191642
Persistent link: https://www.econbiz.de/10009720713